Dear readers,
I’ve just opened my UOB gold savings account and UOB silver savings account. If you remembered my previous post, I mentioned that the savings account is meant for short-term gains.
My intention for my gold and silver savings accounts is to do a monthly deposit into the accounts to maintain dollar-cost-averaging investment on precious metals. The bid spread for the savings account is lower.
Another way to look at the savings account is that you are locking in the gold and silver prices at the time you make the deposit. Should the gold and silver prices move up, your deposits in the savings account would also appreciate. Therefore you can cash out the deposits along with the profits to purchase the physical gold anytime.
To open the UOB Gold Savings Account or the UOB Silver Savings Account, simply hop down to any UOB branch.
Do note that for UOB Gold Savings Account, the minimum deposit to open the account is 5 grams of gold and for the UOB Silver Savings Account, the minimum deposit is 10 oz of silver.
Leave a comment:
